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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Step1 who wrote (51163)6/21/2004 9:31:19 AM
From: Tommaso  Read Replies (2) of 74559
 
>>>it is easier to avoid taxes on consumer items than income tax deducted at source<<<

Not at all. Cash payments, and informal barter, between individuals for services easily escape income taxes. New merchandise, however, has to be provided through licensed manufacturers and licensed distributors that are quite visible to tax authorities. There is a huge amount of economic activity in the United States that escapes income tax collection: house cleaning, carpentry, painting, lawn care, nursing, babysitting, and even some plumbing and electrical work. Artists swap paintings for dental work.

Go to any department store in Europe to see VAT being collected. It is probably easier in the United States to escape sales tax on Internet purchases than it is to escape the VAT tax.

I don't say that VAT is uniformly collected, but there are no more loopholes than there are for U. S. income taxes.
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